Rising Demand for Implant Customizations During Surgical Procedures Coupled With Growing R&D Investments Is Also Driving the Global Automated 3D Printing Market
Hyderabad, India - July 24, 2021 /MarketersMedia/ —
The Automated 3D Printing Market forecast to reach $2.0 billion by 2026, growing at a CAGR of 28.3% from 2021 to 2026. 3D printing is a process in which materials are joined or hardened under the control of a computer to create a 3D object, with material being added together (such as liquid molecules being fused together). 3D printing is used in both rapid prototyping and additive manufacturing systems. The shape or geometry of an object can be of any type and is produced typically using digital model data from a 3D model or other electronic data source..
Automated 3D Printing Market Segment Analysis - By Type
SLS Printing has dominated the Automated 3D Printing Market as compared to the other types. SLS Printer uses powdered material as the substrate for printing new objects. A laser draws the shape of the object in the powder, fusing it together. Then a new layer of powder is placed and the process repeats building each layer one by one to form the object. Laser sintering is used to create plastic, metal and ceramic objects.
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Automated 3D Printing Market Segment Analysis - By End Use Industry
Medical industry is projected to witness significant demand and grow at a CAGR of 35.1% through the forecast period. The applications in the medical sector include organ fabrication, anatomical models, and creation of customized prosthetics, drugs and tablets and many more. The end users include Prosthetics, Medical Components, Tissue Engineering, Hearing Aids, Surgical Guides, Dental Implants, Drug Screening and many more.
Automated 3D Printing Market Segment Analysis - By Geography
North America is the leading market in the Automated 3D Printing Market with 39% of the total share in 2020 and it is followed by Europe. U.S. is majorly contributing towards to the development and increasing share in Americas market. In Americas regions, the Stereo lithography (SLA) is a leading technology majorly adopted in 3D printing market. With the improvement of a variety of processes in 3D printing technology in healthcare, SLA has continued to surpass its initial application in modeling and prototyping. The technology is capable to design highly complex and individually designed geometrics.
Automated 3D Printing Market Drivers
Rising Number of Applications for 3D Printing
One of the main drivers in the global Automated 3D Printing Market is the growing use of this technology in many applications like transplantation, drug delivery, 3D printed organs and many others in the healthcare industry. Rising demand for implant customizations during surgical procedures coupled with growing R&D investments is also driving the global Automated 3D Printing market. The increasing adoption is because of the wide spectrum of 3D printing applications in healthcare.
New Technological Advancements drives Adoption of Automated 3D Printing
Technological advancement helps to focus on developing new 3D-printed products which increases the demand for 3D printing in the healthcare industry and are some factors driving the growth of the market. Moreover, increasing research and development activities helps to develop new treatments for multiple diseases are contributing to the growth of 3D Printed Medical Devices Market. Engineers from Pohang University of Science and Technology, South Korea have successfully developed “bio-blood-vessels” from a 3D printer using material extracted from the human body as a template.
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Automated 3D Printing Market Challenges
High Cost of 3D Printing
One of the major challenges in the global Automated 3D Printing Market is the high cost of 3D printers. Technologies like stereolithography, laser beam, electron beam, photopolymerization and droplet deposition techniques are way too costly. Business and Industrial printers which are typically used in healthcare sector cost around $10,000 and thus present a major hurdle for facilities to adopt.
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Automated 3D Printing Market. Hewlett Packard , Medical Molding Inc., Proto Labs, 3D Systems, Stratasys, SLM Solutions, Nano Dimension and ExOne are considered to be the key players of the Automated 3D Printing Market.
Acquisitions/Technology Launches/Partnerships
In June 2020, Engineers from Pohang University of Science and Technology, South Korea have successfully developed “bio-blood-vessels” from a 3D printer using material extracted from the human body as a template. These blood vessels are also capable of acting as drug carriers that will release the drug into its inserted surroundings thereby increasing the likelihood of a successful implant.
In February 2019, Johnson & Johnson announced the launch of 3D bio print center of excellence. This new facility is established due to collaboration between the medical device and pharmaceutical giant, AMBER (Advanced Materials and Bioengineering Research) and Johnson & Johnson. The Centre will be operational from July-2019 and the facility will carry out various orthopedics research projects.
Key Takeaways
Metal 3D printing is a precise and cost-effectual method for the manufacturing of template components and as end components for use in different environments, without the investment in time and money of conventional tooling.
Rising demand for implant customizations during surgical procedures coupled with growing R&D investments is also driving the global Automated 3D Printing market.
One of the major challenges in the global Automated 3D Printing Market is the high cost of 3D printers.
Lack of skilled professional and stringent government regulations are challenging the growth of the market.
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